Organovo (NASDAQ:ONVO) Issues Earnings Results, Beats Estimates By $0.02 EPS

Organovo (NASDAQ:ONVO) announced its quarterly earnings data on Wednesday. The medical research company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02, Zacks reports. Organovo had a negative net margin of 12,176.70% and a negative return on equity of 249.28%.

Organovo Stock Performance

Shares of Organovo stock traded up $0.00 on Wednesday, reaching $0.38. The stock had a trading volume of 27,424 shares, compared to its average volume of 158,415. The business’s 50-day moving average price is $0.38 and its two-hundred day moving average price is $0.45. Organovo has a fifty-two week low of $0.32 and a fifty-two week high of $1.74. The stock has a market cap of $5.91 million, a P/E ratio of -0.36 and a beta of 0.54.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Organovo in a research report on Saturday. They set a “sell” rating on the stock.

Organovo Company Profile

Organovo Holdings, Inc, a biotechnology company, focuses on developing 3D tissues that recapitulate key aspects of human disease. Its 3D human tissue platform includes its proprietary NovoGen Bioprinters, which are automated devices that enable the fabrication of 3D living tissues comprised mammalian cells; and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture.